« The Tony Robbins Podcast

The small business resiliency kit | Tony plus 5 top business experts with advice on how to protect your business today, and prepare for future growth

2020-04-08 | 🔗

There’s a lot that’s unknown in this economic climate. Fear and panic are taking over, and it’s hard to see the light at the end of the tunnel – especially for small business owners, who are being faced with many tough decisions. 

But instead of letting fear consume you, now is the time to draw upon your conviction and leadership – to draw upon your training and preparation. When this is over, there will be those who squandered it, and there will be those who seized the opportunity present in this challenge – who stepped up with creativity and innovation, seeking to add as much value as possible to their clients. 

In this episode, we are bringing you interviews from Tony’s top business partners and speakers from his Business Mastery event, who will be sharing their advice on how small business owners can not just survive in this climate, but thrive – now and in the future.

You’ll also hear from Tony on how you, as a leader, can manage your mindset and create momentum in your business – so when this comes to an end – which it will – your business succeeds like never before.

This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
If you run a company, whether it be as a first, how much for nor poorer season ceo you face challenges every day and now those challenges and tough decisions or amplifies as befits uncharted territory. For years twenty Robins has helped business owners like yourself, navigate through difficult times, and now he would like to underwrite the cost of a free one to one strategy session, with one of his top business, cautious, six hundred dollar value. In that session, your coach will provide you with the tools and strategies in today's business climate to clean your free session. Just go to Tony Robins dotcom, Slash, CEO, that's tony robins, dot, com, slash c e, o the corona virus pandemic is affecting everybody in the entire world. Things are fast and we're all being forced to adapt, and
you're a small business owner, you're being faced with many challenges for figuring out how to keep your business afloat. The tough decision of whether or not you can keep your team employed, you might be, full of what's to come because right now, there's a lot that's unknown, but instead of letting fear take over and consume, you now the time to draw upon your conviction and leadership upon your training and preparation, because winter is here and when this economic winter is over, there will be those who have squandered it and there will be those who seized the opportunity present in this challenge, who stepped with creativity and innovation seeking to as much value as possible to their clients in this area? and we're bringing you interviews from Tony's topic, business partners and speakers from his business mastery events, we'll be sharing their advice on how you can not just survive in this climate, but you can set yours but to thrive in the future. Let us go everything from how to increase cash flow to how to expand your digital audience and how to
communicate with their clients and stakeholders. But, first years, Tony on how you, as a leader, can manage your mindset and create momentum in your business. So when now comes to an end which it will Your business succeeds like never before. Listen. I send you my love during these Tracy Times of uncertainty and we weren't Unprecedented time right now, so I hope your home with you Emily and you're taking care of yourself. You take care of the people that you love and I'll, be fine, I the rules that the government in medical, Nationals were sharing with you, but I just also want to put some things in perspective. We are not weak meaning humanity we are not. This is not something to worry about is at the end times that life or death, because when things get crazy like this, and social media goes crazy. People start putting out every story known a man. I've seen more figure that I've seen in years. I just want to reach out to your call to you as a leader leaders, not
the culture they create their own, a leader, doesn't let somebody just get in their head. They get in their own, had any direct themselves, times of uncertainty like there's. This is like wintertime. I've always thought people my business owners ism. You gotta be made for winter, there four seasons. You could be born into born in winter. That's when nothing seems to work. It's called my heart and you're, giving your all seem like. There's no rewards The giving of any business feels like winter, but sometimes the economies in winter tune in this guy. In time we ve got more the psychology creating economy that might be in winter, but the most successful people do well in winter. If you look at Fgm, one thousand in say, Winwood a boar like winter, tough time spring creeping about what winter is always wing. What does not good times, you're coming, they will come again. Scary. It seems that always happens after the night comes the daytime. You don't have to worry when you say that way, I'll call is that we look after one, swindlers growth. There is an opportunity and you grow
you plant seeds and then you get to the summer time we're it's hot, what kind of sweat even you like, where's where's, my where's my reward where's my plant and you just we wanted to see it, but if you through all foresees and you'll get yourself to the far right to where all the segments ottoman everything's do four colours in the fruits on the trees in your rewards are there. But if you plants and the springtime cause you're lazier entirely your fearful you're gonna, be Weeping and the fall reaping the fall. So my mind's areas four seasons. You can be born into a business. Fortune, one thousand the most successful companies on earth, sixty five percent or worn in winter time in a recession or depression right would Disney but can IBM look at Chevron. Look spend an oil look at Federalist,
look a whole foods. All these I can go on and on Microsoft, Apple all morning, the recession or depression, and if you'd alone, that time you will crush it everywhere else. My teacher, Jim Rhone, used to say stand guard at the door of your mind every day. I so when you mean another, Is it Tolmaeus like big like its coffee? He said you want anything in your coffees of one of your worst hit May drops like nor should go in your coffee adds involving have sweet jugglers. We copy Ngos, that's right. So what? If your best friend fairly member by accident. Drums one drop of strychnine coffee you'd be dead. That's right! So what you call, because life is both sugar in strict like when you lose the news all day, long poison you We come a leader ideas are not going to interrupt you there. Pursued. If you really want to do well during this time, you gotta, feed your line
Do that instead of working, it just means you need a portion of your day. For me, forty five minutes we're going to feed your mind, you're, going to pursue great ideas. What to listen to an audio programmer watch the video it's going to strengthen, you wasn't seem story over and over again, so you're hypnotize, like everybody else, into doing nothing and giving up leadership. Comes from. Having certainly certainly comes from speeding, my pursuing those ideas. Looking for what can make the difference, so my message to you is during this time you more yours too create more men of swill feeding your mind, strengthening and design. Plans. So when the season changes when spring time shows up, instead of being behind your radio rock and roll you're ready to crush it, makes sense, we're gonna make it this to feed your mind, strengthen, take Moussa Batch and create momentum and make this that but you're made for so you can serve other people serve yourself in Serbia. Family lives strong and live with passion.
As Tony just said, creating momentum during this time is key in Europe to learn how but order to gain momentum. You first need to know how to talk to your customers in the sensitive time first is Donald Miller, he's a speaker it these business mastery of acts and the CEO of Story Brandt, a company that helps thousands of businesses around the world, clarify their brand message. As an expert, story telling his ideas have deeply influenced leaders and teams for panties pixelate Steelcase Intel, prime lendings acts bees. Thousands more here is done with the two things you must communicate with your clients and your team in this atmosphere. Everybody is may download Miller and we are certainly an unprecedented times really nobody's experienced. Anything like this certainly Ed situations like this, but we haven't had situations like this and the ability to communicate so much with each other and so
Communication becomes incredibly important leaders, people who, People cannot depend on need to be very specific about their communications. There really too Two things I talk when I talk about this in my books, but the one main thing is A crisis you want to over communicate you need to be talking to people a lot. You need to be emailing your staff every day. At least you need to be having meetings. We can't stand up meetings, but they're, really zoom meetings. Now we ve doubled and stand at meetings where our entire staff, kids together- and I talked to them right, you need to be communicating with. You You need to be communicating with your customers via social media more than ever in ITALY. Or communicate. There's a reason that times of worry and stress and anxiety. The president actually has a press conference every single day, even if nothing new or much notice happen. We gonna pull some things too because you standing there and being empathy
I can being and control actually coms people, so leaders need over communicate during time. The next thing that you need to do is there's two things that you need to communicate whenever you communicate. So, if you're on social media, if you're in staff meeting if you're talking your customers. If you're writing an email, you want to communicate two things. The first is empathy but the by that I mean you want to say. Things like. I understand is a hard time. I feel your pay. If you will hear us struggling with the rule, now those sort of acknowledgement, knowledge, really you connect with other people's hearts. They need you'd. They need to know that you're, a human being human, being less feelings, we'll take care of them. So there thinking about their survival and they want to trust somebody who actually has feelings right and emotions. Now The second thing that you want to communicate, though, is competency, competency or authority.
Instead, you really are in control of yourself, and your in control of the situation is best, as you possibly can be think about a pilot and there's it's a bunch of turbulence. Planes are going down some turbulence in everybody is really losing it back there. Don't want to get on the inner common scream and say I can't believe this is happening fast, not going to set any varieties you want to be able to say, hey everybody. I know this is really uncomfortable turbulence and I'm very sorry. Your plan, the lower the play about ten thousand feet and kind of certain the ride we're going to land over here and in Tupelo or whatever you got to have a plan that you have to be competent, that Compton and up in the moment of crisis you able to put together some sort of cash flow and some sort of business plan, and then you need the peace of mind and strength of character to work that plan? so the one to punches I've I unjust. And your pain
with you guys. I feel that with you here is our plan to get out of it and I in here's what everybody needs to do in order to make this work, when you these two things you, you are literally like an anti anxiety drug. I mean people's minds, actually calm down and you have the power to do that to actually serve people in that way. Just remember empathy and authority and over communicate, communicate all the time With the world shifting more and more into digital landscape- for now more than ever to stand. With your customers online. Here's right dice the ceo of Digital marketer and the business mastery speaker with strategies on how to expand your digital audience and communicate with them on their terms, along with strategic leadership tactics that he's implemented in his own company. Here's Ryan. Hey there, this is right. I see a digital market are entitled to share with you some of my top strategies,
or continue to market and continue to grow your business during this God sees. I also want to share with you some specific actions that I'm doing make the most of this time to make the most of this time as a business leader to make the most of this time as a market or to make the most as time is a husband and father. Let's over the strategies, we cannot three of informing the first one, I want you to use this time to focus on audience, expansion not revenue, maximization, ok, number one! Folks on audience expansion, not revenue, maximization. What I mean by that? What I mean is only two folks on building your list. Are we to focus on on expanding your pixel audiences. If you're familiar with with online advertising right, I want you to focus on getting your message out there right. We need to focus so much on the revenue component. Now I know that's easier said than done. I know the same. Like you know, you're telling me I, focused too much on revenue. Look, we all gotta eat. You gotta make the money that that you gotta make, but I'm sick
lot of people using this time to go like launch brand new high ticket things. It's gonna be difficult during the season. Ok, Remember: people, scared and people get scared. They get. Scarcity minded it's minded they hold tight. They grasp right what I want you to do, instead of trying to get them to it. Unclenched their hand and to take from Matt. I don't want you doing open wide open wide, give with really great free content. Ok, give with content like what you're watching right now continue to stay out. There continue to offer stuff, it's free that people are gonna opt in, for I d in the season right now, our data, showing that add costs or down by forty percent right Facebook, add costs or down by forty per so many people are pulling and budget now an ideal time to expand your audience and to build your list or right will have the full we'll be there from a revenue perspective about it, not as revenue loss, but as revenue deferred can that's important. The revenue is not lost its merely
third folks on audience, expansion. The revenue will come second biggest prodigy that I want to want you to consider during the season is to make sure that in your marketing and in your messaging, you are acknowledging the reality. I am still seeing so many tone, deaf add so many tone: deaf commercials, I'm getting a tone, deaf emails from marketer who clearly there just contained owing to run with this, ads and the same messaging in the same imagery that they had no pre covered nineteen right, first rules and marketing is you need to engage with the conversation that your audience is already having starting a new conversation is difficult and its expensive rights who, as marketers, if we can enjoy age with the conversation that are audience is already having. We would have a much better chance of our message penetrating. What's Conversation everybody's haven't right now. What about covert ninety in the worldwide pandemic. So
nothing. You gotta necessarily send every single email or message that talking about it, but in your tone it needs to reflect that we're dealing with a somber time. You re down depressing, but if you Happy in you know, jumping up or down like whoop, like nothing's, happening that's tone, deaf right, you're, the best and whistling at the funeral. Don't do that don't be that person. Similarly, if you're running images in I'd shots and people high fighting? That's not our reality right now. If reality right now, if the video you're putting on his heavily produced again. That's not the reality right now. What I'm doing right now, I'm recorded this summer laptop. This is how people are experiencing life at other, communicating with friends and loved ones to resume, and things like that to mirror are messaging the mere our tone- and we need to mirror- are imagery right that, We acknowledge the reality so make sure again, number one were focusing on audience: expansion, not revenue extraction. Number two. We ve got
I acknowledge the reality in our messaging in our tone in an hour imagery when we're doing advertising and marketing. If we want our messages to break through third, strategy that I have really simple. You gotta stay in the game. You ve got to stay in the game. This is Newtonian for every action. There's an equal and opposite reaction. There will be a greater, an opposite ray. Action once we're all able to leave our homes again, but I'm telling you the primary beneficiary of this crater, an opposite reaction are gonna, be the businesses. Eight in the game, the businesses that kept advertising the bill, Does that kept communicating right? The businesses that kept calling get it if you need to pull back in your add budget a bit, but don't go to sea row right if you needed. If you need to reduce The if he'd reduce you're you're at budget to just the campaigns that are our. Why pause and when the first thirty days do that, but don't bring it down to zero gotta stay out there you will read It's your email communication, that's fine, but don't take it! Zero right, Dante!
cells people not make outbound calls. You have to stay in the game, because when the snap occurs, and it will You need to make sure that you're there you can't wait for it to occur to then all the sudden like a weight. Remember me, I'm still here now. So is a three top. I gotta have we in terms of specific actions. I'm doing to really make them of the season for as a leader right as a business leader watch your team. Specifically, I want you to watch for the unintentional leaders that are beginning to rise up most of us right now. We're running remote businesses, whether before we certainly are now What that means is some of the people within Europe ionization he may be had high hopes for right, maybe seen them receive a little bit very often what that means that person was far better at politics than they were it actually work and leadership, on the other hand, Maybe somebody in your team that you're really starting to see rise to the occasion, look for those people, you may have some Annette
and shall leaders on your hand that that that you can really elevate, win, win things turn back around this. Second thing that I would look for this specific to your customers. Double down a community. You know it digits all right. Now, I'm spending hours a day inside of our facebook groups. If you dont, have Facebook groups in you, probably don't This may mean just make phone calls and indirect emails to some of your top client and customers, letting them know you're still here, and you still want to help. I little things like I matter. Double down on, You really don't be silent. I would also say give give big give so much that it hurts a digital market. We took our main had ship product, digital market or lab, we just made it free. We made a free. We had over sixty housing people sign up for free accounts, now many those will convert and roll over into paid members when it's all send done, but if it's just too three percent, it's gonna wind, it being the single best promotion. We ve ever done a digital. But that's not why we did it. We did because it was the right
thing to do right, so if you're gonna give give big give so much that it hurts and then for you, how would you simply? they dont, let this time pass without using it as an opportunity to re, evaluate which really matters and- A lot of people said that, but I want to give you a suggestion when he be two questions to answer. What are you miss and what don't you miss? and I would make a list, make a list of the things that you really really really miss and they make eliciting You don't miss like, for example, I really miss taken family to get back in food on on Friday night, my wife and I sit back and said Marguerite is watching the kids play in the playground. I miss that right. Miss business travel rosebud to be able to get beatings done over soon, but I definitely miss vacation travel Speaking, I am seeing my team there's things I misunderstood. I don't miss and so make that list I will tell you, the season is a gift. You ve been through hard times before and, if you ve made it out on the other side, not only did
stronger, but you learned from it all right if we can get through this time better Let us make no mistake. This will end right. That's the one thing all the experts agree. They all agree that this will in this is not an extinction level event right. This will end and when it does make sure that you can look back on it and say you know what I learned a lot and I'm better for it you ve heard it said over and over we're living in president. At times. But some of you may remember two thousand eight and a financial crisis ravaged the global economy. You may lost money or your retirement, or maybe you were just entering the workforce and couldn't find a job, because companies weren't hiring easy to become anxious because it sounds like the sky is about to fall because right now, just like. Two thousand eight very uncertain Instead of living in fear, do your best to prepare for this journey ahead As Tony says, anticipation is power
for strategies that most of the world's greatest financial mines have used to grow their wealth for time, even through economies Tony calls them the cor for everybody, of course, has a different financial situation. These pull strategies apply to everyone. Tony planes, the poorer for in his New York Times, bestselling book unshakeable unshakeable step by step playbook that can transform your financial life, no matter your salary stage of life or level of wealth and outlines how to put together a simple actionable financial plan. Even in an I'm a downturn Tony is offering Pike s listeners a free, hardcover copy of unshakeable you just shipping and handling good W W W doc unshakeable dot com to order your copy welcome back up now we have taught hardly the CEO of Wire Buzz a company that helps businesses amplify sales, reach
angles and surpass competition with video that converts here he is with top three strategies for increasing revenue in the new world. Access to sales keep on traditional selling methods is, at an all time, low. Here's taught. It's obvious, we ve entered a new world with a very unique challenge for businesses. Today, sales Some access is at an all time, low and prospects there interact with salespeople and for people that our committee the in business. Well, that's a real challenge, but are also market share opportunities available right now. So, if you're frustrated, because limited access to your prospects is affecting revenue, but in your heart you know that there is a better way
to engage and convince them. Well then, this is created for you now in this new world, prospects are rapidly gravitating towards on demand and remote buying experiences, just like a sales person would traditionally have done for your business. Now, your website needs to inspire visitors to either learn more or make a purchase. So at the very least, your business needs to have a sales page that offers and undermine buying experience that poles prospect.
Through your sales message? Because when prospects no way, you know buying becomes a no brainer, but you can rely on text alone, because today's buyers won't burn the mental calories needed to thoroughly read about your solution for a lot of people. Reading is hard takes effort and, ultimately, your success in the new world will depend on how effortlessly you make learning about your solution. So, as you create your sales page, I want you to use tech sparingly down the page to transition viewers to each state of your sales message and then on the top of that sales page. That's where you get to make learning super easy by adding a compelling video that highlights the most important information on that page. I like to think of this video, like a slip in slide. The just speeds up learning you see, video is the perfect attention. Hackett sticky, keeps people around twice as long and video is the easiest way for people
see you're solution in action and that's why compared to text a business videos four times more likely to be watched and when people are done watching their eighty, I've percent more likely to buy not a blow your mind. More than fifty percent of yours will watches seventeen minute video to the end. How many text only pages have that kind of sticking s all right, so you need to create an effortless on demand, buying experience by giving visitors a really interesting video that engages their brain and shows the impact that your business is gonna have on their life. The perfect video and sales page combination should deliver information like your best sales person. The only difference is when you create your sales page, you have to know what to say and in what order, but fortunately your best sales person is already optimized your sales process so pick their big brain because they ve already
covered, which stories to tell and in what order to make buying easy and I'm gonna. Give you a hand. They probably try to find common ground first and then use that as a springboard to present your offer as the solution to their specific problem right so just fill in the details and you ve got yourself and on demand sales experience. Are I hears a protest donning nor the tricky conversations on that sales, page like pricing, competitors, data or even potentially, or on product shortcomings? You see your sales. People have already been handling these objections, so your sales page, if you wanted to work, really well, has to address these issues also now in the interest of full disclosure, I fought my strategy teams advice about displaying pricing on our sails page for at least three years, and when I
finally, caved in created some type of small, medium and large generic pricing. I immediately notice that prospects financially were vetting themselves. Sticker shock ended and we started closing gills faster, so now that you know how to use a sales page. My next technique is where a large number of your new deals are gonna, be one, and I call this show and tell sales presentations while transitioning from face to face too remote sales, I always think about Donald Miller and how he teaches a business mastery.
People were drawn, the clarity and away from confusion, which means in this new world of remote sales. Your biggest obsession needs to be moving each and every prospect away from confusion and then closer to clarity, but before I can show you how to deliver that type of a penny, let's discuss what typically happens when a proposal is submitted for approval, most salespeople, emo their proposals and then move on to their necks deal. But that's really low. Success. Rate tactic you see in most businesses, people will make major purchase decisions on their own. Instead, we make important decisions as teams and, if, relying on your internal champion, who has been on each of your calls to explain your pdf proposal. With the same finesse that you provide in person, you really setting yourself up to lose instead give you
internal champion, a show and tell presentation video that they can play for their entire team. Now all you have to do is put yours this person on camera, while sharing your proposal at the same time and then walk your prospects, entire team. Through your proposal with the right level of clarity, certainty and, of course, site meant to do this on the fly. I use a simple tool called soap box by wisdom. That also can show you which prospects watch your video and for how long, including the parts they skip or raw Watch now my sales team. We use this will the prioritize, which leads are ready to buy right now and when we started using video viewing time the indicator of buyers interest. We were able to prioritize which of our leads were actually buyers and that alone collapsed or traditional nine weeks. Sales cycle in three weeks
because we weren't wasting time chasing hot leads in cold leads. Equally knowing which prospects are interested That's a game changer in this new world, where physical, access and body language are no longer available. In my final video strategy knocked down one of the biggest limiting believes that people have about video. You see are too often people fool themselves into believing that they need to have an expensive camera to get started, but at the beginning I prefer use what you God and start creating video with your phone. You dont need to get fancy with your videos, just start recording videos with your cell phone and don't worry about people. Judging your video quality people rely on video, so much now that you're gonna appreciate your efforts and the celebrated learning that you ve created for them later on when the time,
right for your business. You can professionally update your videos, but for now take massive, decisive action and put your best salespeople or company representatives on camera. You know Tony reminds us repetition is the mother of skill, which is perfect advice for DE. Why video creation for each video start recording multiple takes the more the better and, with every take just like a polishing stone. That's going down that river. Your videos will continue to improve. Now before I wrap up have to remember to be competitive in this new world. You need a sales page, four on demand, buying experiences you need, show and tell presentation and proposal videos. You need covert viewing data that I'll help. You prioritize led follow up and you can get
started right away by using your cell phone to record your videos. So now you know my top three strategies for increasing revenue in this new world, where salesperson access is at an all time low. Let's go Rolling Frazier is an investor and a business strategist who drives growth and scale, and his companies with the intention of exiting within three to six years. You might reckon his name, as he has only five different ink magazine fastest growing companies in five different industries, as now to hear your business has three options right now: free then fail fumble and maybe survive or fight and grow
here he is with strategies and how you can fight and grow now, so that when things go back to normal, your business will thrive. A villain Frazier here from all channels media- and I wanted to talk with you a little bit about three strategies for dealing with the current in business- invite that were in right now. What we're looking at number one is it's really important to have runway and what is runway runways, We don't know how long this thing is going to last. It might last ninety days, thirty days, three months, we don't know So what we want to do is we want to have enough runway to mean meaning that we want to have enough cash in our business to be able to survive if We are not experiencing growth through this there's some very lucky companies that are actually growing as this situation unfolds like online learning companies and shipping companies and grocery delivery companies and thing-
like that. But there are also many people who are many businesses who are feeling the hit from having to close their business or move remote or even not be able to operate business at all. So the very first thing that you want to think about is: am I going to be able to have enough cash to survive this and we look at this like a start up startups raise capital, so they haven't runway to cover what they call their burn, the amount that they're going negative each month so too Oh, where your runway sets. You have to take the cash that you ve got now and then say how much is my monthly income and subtract from that? Your monthly expenses? If its positive? That's great, you don't have to worry about runway, you, runways, infinite, but if its negative If your expenses exceed your income right now, then you do have a limited runway, say divide that, if negative amount into the cash that you ve got right now and then how many months you have to go. So one of
strategies for surviving. This is to get more runway and the easiest way to get more runway is get more cash easiest way to get more cash is in phases. You can go, get credit cards that allow cash advances, that's good for very, very short term. You can then get loans from banks. You can raise capital, but whatever you do think about how to get as much cash. Available to you as possible. That gives you the greatest amount of runway second strategy is to know your cash flow, so we talked about cash flow. Determining runway one of the ways that you extend that runway is to have more profit or less loss so The easiest thing to do here is to go through all of your monthly expenses. We do it while day day, by day, cashflow. Analysis where we say this is all the income for each day for twelve days. These are all the expenses, and that allows us to really highlight the biggest expenses that that we actually aren't benefiting from that. We don't need right now,
eliminate those expenses and you might find that you go from negative to positive. But if nothing else every spend that you eliminate extends your runway. The third strategy. That were using right now is build your list so the world of advertising is on sale right now. The cost of act was of acquisition for customer has gone down as much as fifty to ninety five percent in most of our businesses, so we're dead, willing our adds, but this is a time when you're competitors have pulled back out of fear. I note that that's not something your facing right now. Right, you're, overcoming that and and advertising costs, therefore have gone down. So this is the time to double down, and spend money to grow your list. We also want to think about, Can we do right now to adapt to? who streamline our marketing practices in and one of the things that we're doing. I think the biggest thing that any of us can do is actually to to your customer. You should be doing this anyway, but so many of us don't we get busy when things are good and we don't take the time to reach out to our customers.
But your customers offer a wealth of data so reach out to your customers and ask them what they want right now and how could you adapt your products or services to meet their current needs? They'll too, reaching out you're developing the relationship, your showing them that slipping the relationship you're, showing them that you care your creating reciprocity because you're giving in helping them, and that will come. To you. If it doesn't come back immediately, it will definitely come back over the long term, so there's nothing to lose, and everything to gain by doing What you'll also learn is that you can reposition your product they dawn. What their needs are in recessionary economies. Traditionally products should be reposition as a substitute. Your product as a substitute for more expensive goods, or if you have premium brand, then you might consider discounting so that you, u dont, face the threat of being so do it by an inferior but less expensive products. Those are two strategies that are very
popular as well as if you have a postponement. You you sell something that people dont have to buy right now. That's it! It's a good time to try to reach, vision that in their minds as either an essential or a treat an assent because they needed obviously but a treat even in time that are tough, everyone's looking for some way to treat themselves to some little thing So let's say you sell skin care cream, that's not an essential, but it is something that people might think about. Having a personal at home, spotty think about positioning yourself, to be able to be a treat or an essential and to be a substitute for two, not be substituted. And now I want to share with you some latest numbers on some specific strategies that we're doing to really take advantage of of our ability to market. During this time one is that we have gone to five days a week of lives on Facebook which its zoom
that goes live on Facebook, and then we release it on our podcast and we're we're pudding sizing money behind that two stretched out and the numbers we ve got right. Now are three times increase in an email lists, we ve developed, we built our list expanded or email list by three times and we're getting five times as many podcast downwards we are also doing free offers, so we're doing no strings attached. No credit card required free offers for thirty days to some of our products in one of the companies, we have actually been able to generate an extra fifty thousand customers within under thirty days, and these are free. Now now, but several of them will converge and the other thing that we ve been able to do is increase are paid trials, so we offering the free, but that also increase the paid trials by twenty times. We're all we're doing a first month free, were buying the first month of coaching for some people,
providing coaching for nine ninety seven a month we had over a hundred, and fifty people signed for this thousand dollars a month coaching programme just from the very first exposure of this and will buy your first month- that's a J Abraham there. And then last but not least, we ve a virtual eyes: are two day live events so used to have live in person. Events, we virtual eyes those another virtual and their delivered three days, so it's not as taxing and we're doing challenges to fill those some specific strategies that are working force. Thank you very much. As founder and ceo of the Abraham group, J Abraham has spent his entire career solving complex problems and fixing underperforming businesses he's a long time partner and friend of Tony's and he's renowned for finding significant profits were no one else. Can here's J tips on what you can be doing to grow here. Market share, expand opportunities, giving Europe X and services and improve business efficiencies. Along with what
personally doing in his business during this time of extreme market disruption, here's J either his Jaber hand. First of all, I telling everybody that, first and foremost, whatever your business, is solidify your base and you're and fortify your relationship with all your active recent and frequent and and and even recent past fires for important as you go forward that they know that you're, you appreciate them, you there for them and, depending on what you saw, if it's something there still buying, you want to make sure that you are proactively interacting with them, so they will continue as they have the capacity for buying something that they have slowed down or stop buying than you. First thing you want to know is what else have they do?
they would they are they buying. That would be something that is purchase before during after or instead of what you're buying and you need to collaborate with other providers of those related or complementary, or even competitive products or services, and make arrangements to partner with them on profit sharing, so that you can basically keep viable to your client needs in alignment with my strategy of pre eminence, which takes far too long right now to explain, but it's about doing what's best for the client and in this case also was probably best for you ever three is in a time of crisis, and this is certainly profound, unprecedented crisis
most of your direct competitors are going to be weakened and are going to be reactive and they're, going to be oftentimes, paralyze gray. Honestly, that's a great opportunity to acquire a lot of market share, not just to marketing, but through contingent acquisition would contingent acquisition And if you go to your weaker competitors, who may be on the verge of literally collapsing cause, they don't have the economic state, stabilization or well being, but they also don't have the psychological strategic well being, and you make a deal with him. Were you take over, not their business? That's got liability. You take over their assets, their buyers, their brand, their distribution, maybe even their salespeople, have relationships and you pay for that out of a shared
of the profits that you produce by fulfilling arm selling to them? If you consolidate buyers and salespeople from many of your weaker competitors, you might double redoubled, double again your business in many businesses, the cost of supporting or fulfilling that increase is very modest so that profit becomes very large, so we ve done. Millions and millions and millions of dollars of acquisitions like this, where we acquire a competitors buyers, we acquire their an answer, oh prospects, we acquire their salespeople, their brand, their phone number there webs. Anything that has monitors asian and we only pay them a share of the prophet twenty five. Thirty five percent after fulfilment, but because to the weaken competitor. Then they would make on their own and keep them alive and viable and help them all.
Weaken competitor, then would make on their own and keep them alive. Viable and help them also get out of some of their overhead or there are there liabilities? That's another thing it if you do it with many many it can be here, The last thing I would say right now is that there has never. In a more receptive window of opportunity to structure joint ventures, collaboration, endorsements profit, sharing deals with all kinds of other companies. Influencers organism since media that has access to the market. You why during more times, literally four five six weeks ago, they wouldn't have given you the time of day now very few Your prizes in individuals are financially solving even become These have run out of cash or running out
need revenue generating. They need cash flow, so they are receptive today to what they would not have been receptive to before. You can go to them and make deals where they promote you, they introduce you, they sell you stop, or vice versa, very, very equitable basis where you both prosper and profit and stay viable, I go on none, but those are a couple of ideas I would say to you about your business today, too, the little guy if your business is one that will indeed were and sustain without alteration. What you should do right now is is improved, you're understanding your proficiency, your skill set and all of your people. While they are slow, down other avenues. Each amount to sell better to Jamaica, managed, better teach values are time, better, dramatic, communicate their teach him out again, trust better. All kinds of soft skills.
Proven to double and redouble they effectiveness of medication, interaction and produce. Very measurable profit increases for business use. The time to me multiply Europe, our your profit power, your business, joining our your preamble, its power, your pre emptive power. The next is used the time. To source other markets other Public services other other other new new possibilities. Use it to figure out ex achieve ways that your current business can monetize nags your business is really not just stopped, but stop and it made restart easily for awhile use the time to start
the people you have been selling to who? No trust and and relate to you and ask what else are they buying? Will they buy that we could provide and they trust us to deliver. Look a dear friend compliment products or services. You can now start offering them and you could partner with than you could get very large profit chairs on Look at better ways to use your buyers yours salespeople your day, tribulation channels, look media that is, hurry you can get today enormous opportunities on advertising online advertising, offline advertising, the next four Personally, I am literally doing three things I am
making myself available to organizations influencers to help their pay because I know by doing that. Enormous financial operators, These will come back to me after I have been an investor and a contributor benefactor to their audiences, enter them number. Two. I mastering technology that I was not good at number three I'm starting to set up partnerships with all kinds, people have access to opportunities, industries, markets, chronic services than I can use. My skill set demonetized massively. That's what I'm doing. I encourage everybody to realise that. There's two attitudes, one is thinking of this- as emergency defensive an reactive preparation, the others to think of this opportunity, pause,
the pro active in strategic preparation. If you do the ladder, you will grow and prosper spreading this economy and you will grow to incredible strength, insignificance as the economy, red whose itself, if you doubt you are in jeopardy of being basically an afterthought, so one one strategy you you will survive and then ultimately thrive, the other. You won't keep going I want you going and growing, and I want you to use this opportunity to position and prepare your business to future greatness is possible I know it doesn't seem right as exist. Waiting I thought, but I promise you. I've been through four different ISIS economies and my life. Our country has been through forty seven in his life. It will turn around
and they say the meek will inherit the earth. I think the strategic goal- Herod ears, good luck, thanks, everyone for tuning and for more com and acts in other ways to maintain your focus and sharpen your edge at home. Go to Tony robins dot com, slash growth, resources Tony robins, dot com, slash growth, resources, between Europe and spot. Podcast is directed by Tony Robins and produced by the Tony ribbons editorial team. Special thanks to DAWN, Miller, Ryan, Dice Todd, hardly roulette free. And J Abraham copyright Robin research international
Transcript generated on 2020-04-17.